MindTree Consulting debuts with 47.5% premium

MindTree Consulting, an international IT and R&D Services Company that delivers business and technology solutions through global software development, has listed with good premium of 47.5% over its offer price of Rs 425 per share on the NSE, which was as per the analyst expectations. Analysts were expecting the stock's listing price should be more than Rs 600.The stock debuted at Rs 627, fell to a low of Rs 590 and attained a high of Rs 668.80 .

The company entered capital market with an initial public offering, IPO of 5,593,300 equity shares of Rs 10 each at a price band of Rs 365 to Rs 425 per equity share. It oversubscribed 103.28 times with the strong support from FIIs and HNIs.

The current price of Rs 660.90 discounts its April - December 2006 annualised EPS of Rs 23.40, by a PE multiple of 28.2. The post-issue equity of the company is Rs 37.28 crore and the face value per share is Rs 10.(Source:Moneycontrol)

But if Mindtree Consulting debuted with a huge premium of 47.5 % this was not the case for Broadcast Initiatives.The stock debuted at Rs 140, which is also its high so far. The scrip had also dropped to a low of Rs 96.60.Broadcast Initiatives was trading at Rs 98.25 on NSE, a discount of 18% over the IPO price of Rs 120.For detail news about Broadcast Initiatives click here.